this post was submitted on 18 Aug 2024
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[–] [email protected] 18 points 3 months ago (3 children)

Think twice before lending money.

[–] [email protected] 17 points 3 months ago (1 children)

Don't lend money that you expect to get back.

[–] [email protected] 4 points 3 months ago

This is the way

[–] [email protected] 4 points 3 months ago

I don't lend.

If they need money and I can afford it, I'll just make a gift of it.

If I can't afford it, they can't have it.

[–] [email protected] 1 points 3 months ago

Also, co-signing a loan is the same thing as taking a loan out on someone else's behalf. Only cosign a loan if you're willing to pay it off entirely for that person because all they have to do is stop paying and you're on the hook.

If someone is good to pay back a loan on their own, the bank probably wouldn't want a cosigner. At the very least, they think it's too risky.